How does the Banking Act affect bail-in options?
The Banking Act confers powers to restrict termination rights (and other similar rights), both for the bail-in option and for other stabilisation options. For bail-in, section 48M allows the Bank to require the resolution instrument to be disregarded in determining whether a default event provision applies [footnote 6].
What is the bank of England executing bail-in?
Today, the Bank of England published Executing bail-in: an operational guide from the Bank of England. Bail-in is one of the stabilisation tools available to the Bank as resolution authority under the Banking Act 2009. Bail-in ensures investors, rather than public funds, bear losses where a firm fails.
When do the bank of England bail-in regulations apply?
The Regulations apply whenever the Bank of England makes an instrument containing special bail-in provision (whether under the bail-in option through a resolution instrument under section 12A, or in conjunction with the bridge bank stabilisation option in accordance with section 44B (1) of the Act).
Is Bail Act 1976 up to date?
Bail Act 1976 is up to date with all changes known to be in force on or before 10 March 2023. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.